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Sberbank of Russia (SBER.ME)

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209.10-1.23 (-0.58%)
At close: 11:49PM MSK
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Previous close210.33
Open209.58
Bid216.09 x 390000
Ask209.10 x 163000
Day's range207.84 - 211.53
52-week range172.15 - 270.80
Volume46,859,510
Avg. volume56,689,458
Market cap4.514T
Beta (5Y monthly)0.76
PE ratio (TTM)6.86
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield18.70 (8.89%)
Ex-dividend date02 Oct 2020
1y target estN/A
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  • EQS Group

    Sberbank makes changes to Executive Board

    Sberbank (SBER) 13-Oct-2020 / 17:56 MSK Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Sberbank makes changes to Executive Board October 13, 2020, Moscow The Supervisory Board of Sberbank has decided to make changes to the Executive Board to improve the management model and implement strategic plans of Sber Group until 2023.The Executive Board will include the following members after obtaining the necessary approval from the Central Bank of the Russian Federation:- Kirill Tsaryov, Deputy Chairman of the Executive Board, Head of the Retail Business Unit\- Sergey Maltsev, Deputy Chairman of the Executive Board, Head of Sales Network Unit\- Natalya Alymova, member of the Executive Board, Head of Wealth Management Unit- Alexandra Buriko, member of the Executive Board, Head of Finances Unite.Svetlana Kirsanova, Deputy Chairman of the Executive Board, Head of Retail Business, who decided to pursue other career opportunities outside Sber Group, and Oleg Ganeev, who is moving to the position of Senior Vice President responsible for large distressed assets, are leaving the Executive Board.Herman Gref, CEO and Chairman of the Executive Board, Sberbank:"Each Sber leader, who will become a member of the Executive Board, has shown themselves to be a productive manager. I am sure that the expertise and professional experience of colleagues will be critically important to solve tasks of our new strategy." Press office Tel.: +7 495 957-5721media@sberbank.ru PJSC Sberbank is Russia's largest bank and a leading global financial institution. Holding almost one-third of aggregate Russian banking sector assets, Sberbank is the key lender to the national economy and one of the biggest deposit takers in Russia. The Government of the Russian Federation represented by the Ministry of Finance of the Russian Federation is the principal shareholder of PJSC Sberbank owning 50% plus one voting share of the bank's authorized capital, with the remaining 50% minus one voting share held by domestic and international investors. Sberbank has customers in 18 countries. The bank has a major distribution network in Russia with about 14,000 branches, while its international operations - subsidiary banks, branches, and chapters - include the UK, US, CIS, Central and Eastern Europe, India, China, and other countries. It holds general banking license No. 1481 dd. August 11, 2015, from the Bank of Russia. Official websites of the bank: www.sberbank.com (Sberbank Group website), www.sberbank.ru.On September 24, 2020, Sberbank underwent a rebranding, offering financial and non-financial services of the bank and Sberbank Group to individual and corporate customers. Today, the Sber ecosystem is a raft of services for life and daily assistance in handling pressing everyday issues for individual customers and businesses. The Sber ecosystem website: www.sber.ru. * * * ISIN: US80585Y3080, RU0009029540, RU0009029557, US80585Y4070 Category Code: MSCM TIDM: SBER LEI Code: 549300WE6TAF5EEWQS81 Sequence No.: 85848 EQS News ID: 1140703 End of Announcement EQS News Service

  • EQS Group

    Sberbank releases Financial Highlights for 9 months of 2020 (under RAS; non-consolidated)

    Sberbank (SBER) 07-Oct-2020 / 10:45 MSK Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Sberbank releases Financial Highlights for 9 months of 2020 (under RAS; non-consolidated) The numbers are calculated in accordance with Sberbank's internal methodology. Please note that some minor changes became effective in Sberbank's internal methodology starting from January 1, 2020. Therefore, the numbers for 2019 have been recalculated to make them comparable.October 7, 2020Key highlights for September 2020: * The Bank earned RUB79.8 bn in net profit, ROE came in at 19.6% and ROA - at 3.1% annualized for the month; * Retail loan portfolio has for the first time passed the threshold of RUB8 trn, supported by mortgage production that exceeded a record of RUB260 bn as well as consumer lending; * Corporate loan portfolio grew by 1.1%, excluding the effect of FX revaluation, thus posting positive dynamics for a third month in a row; * Client accounts added 1.5%, excluding the effect of FX revaluation: corporate accounts increased by 3.5% and retail accounts - by 0.5%. Alexandra Buriko, CFO, stated: "In September, the retail loan portfolio continued its solid performance and exceeded RUB8 trn. For 9 months, the retail loan portfolio increased by 11.1%. Corporate lending remained on a positive track and was up by 5.9% year to date, excluding the effect of FX revaluation. Growing consumer activity, cost optimization and the resilient quality of the loan portfolio supported return on equity that for 9 months came in as high as 15.8%." Comments for 9M 2020: Net interest income increased by 13.6% as compared to 9M 2019 and amounted to RUB1,056 bn. The increase was due to loan expansion, lower cost of funding and reduced allocations for deposit insurance from the beginning of the year. Net fee and commission income was up by 9.1% to RUB364.8 bn, due to recovery in transaction activity in bank cards and growth in settlement transactions along with income from client operations on financial markets, bank guaranties and trade financing. Operating expenses amounted to RUB437.3 bn for 9M 2020, up by 3.8% yoy. The dynamics in expenses benefits from the pandemic-related efficiency enhancement program and the levelling of the base effect from payroll indexation in July 2019. Cost-to-income ratio improved for 9M 2020: 26.9% vs 31.4% a year ago. Total credit risk charge including fair-value revaluation amounted to RUB57.1 bn in September. Over half of the charge is attributable to incremental provisions on FX loans without quality deterioration on the back of a weaker ruble exchange rate. For 9M 2020, provisions totaled RUB500.0 bn vs RUB85.4 bn a year ago, which owed to the COVID-19 related global distress. Loan coverage ratio remained intact at 2.2 times overdue loans.Net profit before income tax for 9M 2020 came in at RUB691.1 bn, while net profit amounted to RUB559.4 bn. Total assets increased by 4.1% to RUB32.2 trn, driven mainly by lending growth and increased balance of securities portfolio as well as positive FX revaluation. Adjusted for FX revaluation effect, assets increased by 2.6%. The Bank issued RUB1.2 trn to corporate clients in September and RUB9.5 trn for 9M 2020, including loans originated under the government support programs, which was 22% more than a year ago. Corporate loan portfolio amounted to RUB15.3 trn, up by 1.1% for the month, excluding the effect of FX revaluation. Loan production to retail clients in September amounted to RUB468 bn, which was a record for the Bank. Growth was driven mainly by mortgages, which grew by 3.4% for the month. Retail loan portfolio was up by 2.5% or by RUB197 bn and exceeded RUB8 trn. The share of overdues in the total loan portfolio decreased from 3.30% to 3.25%, led both by corporate and retail loans.Securities portfolio increased by 11.9% or by RUB462 bn, due to purchases of OFZs. As of the 1st of October, the outstanding balance of securities portfolio exceeded RUB4.3 trn. Client funding increased by 1.5% in September, excluding the effect of FX revaluation. Retail funding was up by 0.5%, while corporate finding reduced by 3.5%. Overall, client funding year to date added 5.1% excluding the effect of FX revaluation. Core Tier 1 remained virtually unchanged at RUB4,010 bn. Tier 1 capital was up by 4.0% for the month to RUB4,160 bn, given that the previously issued subordinate debt for the amount of RUB150 bn was included in sources of additional capital. Core Tier 1 capital adequacy ratio increased to 13.24%, up by 0.48 pp as compared to the Core Tier 1 CAR. Total capital increased for the month on the back of earnings and higher Tier 1 capital. The Bank of Russia's subordinate debt for the amount of RUB50 bn was excluded from the calculation. In September, total capital was up by 3.6% to RUB4,871 bn. The risk-weighted assets increased by 2.2% or RUB0.7 trn in September, driven by loan portfolio expansion and amendments to the Bank of Russia's Regulation No.199-I[1]. In the meantime, cancellation of the macro add-ons for unsecured consumer lending issued before 01.09.2019, led to reduction of the risk-weighted assets almost by RUB230 bn. Capital, RUB bn 1 Oct'20*1 Sep'201 Oct'20*/ 1 Sep'20 1 Jan'20 1 Oct'20*/ 1 Jan'20 Core Tier 1 capital N1.1 4,0104,0010.22% 3,30021.51% Tier 1 capital N1.2 4,1604,0013.97% 3,30026.06% Total capital N1.0 4,8714,7013.61% 4,5686.64% Capital adequacy ratios, % Core Tier 1 capital N1.1, min 4.5% 12.76%13.01%-0.25 pp 10.51%2.25 pp Tier 1 capital N1.2, min 6.0% 13.24%13.01%0.23 pp 10.51%2.73 pp Total capital N1.0, min 8.0% 15.48%15.27%0.21 pp 14.52%0.97 pp Risk-weighted assets, RUB bn 31,464 30,7882.20% 31,470-0.02% * preliminary calculations Sberbank Financial Highlights for 9M 2020 (under RAS, non-consolidated) * * *[1] Amendments to the Bank of Russia's Regulation No.199-И "On the regulatory requirements and add-ons to the capital adequacy ratios for banks with universal banking licenses", including those related to updated criteria of 'investment class' definition with respect to requirements to subsidiaries. * * * ISIN: US80585Y3080, RU0009029540, RU0009029557, US80585Y4070 Category Code: MSCM TIDM: SBER LEI Code: 549300WE6TAF5EEWQS81 Sequence No.: 85550 EQS News ID: 1139350 End of Announcement EQS News Service

  • EQS Group

    Sberbank: Sberbank reports 1Q 2020 net profit of RUB120.5 bn under international

    Sberbank (SBER) 30-Apr-2020 / 10:10 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Sberbank reports 1Q 2020 net profit of RUB120.5 bn under international Financial Reporting Standards (IFRS) Moscow, April 30, 2020 - Sberbank (hereafter "the Group") has released its interim consolidated IFRS financial statements (hereafter "the Financial Statements") as at and for the 3 months ended 31 March 2020, with report on review by AO PricewaterhouseCoopers Audit. Alexander Morozov, Deputy Chairman of the Executive Board commented: "Interest income and fees and commissions dynamics were in line with our expectations in 1Q 2020. Obviously, COVID-19 has disrupted our plans. With a high degree of uncertainty globally we have opted for significant provision builds which have put pressure on the Group financial result. Nevertheless, Sberbank earned RUB120.5 bn in net profit and delivered return on equity above 10%. We encounter this crisis well-prepared in terms of liquidity, capital adequacy and foremost, in terms of the experience of our team. The current crisis has once again proved our strategy with focus on the development of digital solutions and ecosystem services, the demand for which is progressing at an accelerated pace." 1Q 2020 Financial and Operational Highlights: * The Group net profit reached RUB120.5 bn (-46.8% y/y); * The Group earnings per ordinary share (EPS) came in at RUB5.6, down by 46.9% y/y; * The Group return on equity (ROE) reached 10.6% and the Group return on assets (ROA) was 1.5%; * The Group gross loans1 increased by 6.5% for the quarter to RUB23.2 trn. Retail loan portfolio was up by 3.9% to RUB8.2 trn. Corporate loan portfolio expanded by 8.0% to RUB15.0 trn; * Active retail client base exceeded 96.3 mln; * Number of monthly active users (MAU) of mobile App Sberbank Online was up by 2.5 mln to over 57.2 mln, and number of daily active users (DAU) totaled 24.8 mln; DAU/MAU was above 43%; * Active corporate client base increased by 37K and exceeded 2.6 mln. MAU in digital channels was up to 2.2 mln users; * As of the end of 1Q 2020, over 9 mln clients were using Sberbank ID, a unified login that provides access to more than 45 Ecosystem partners, inc. Delivery Club, Okko, Citimobil and other companies. Statement of Profit or Loss Results Highlights RUB bn, unless stated otherwise 1Q 2020 1Q 2019 4Q 2019 1Q 2020/1Q 2019, % change Net interest income 371.9 337.5 371.0 10.2% Net fee and commission income 126.4 102.9 148.3 22.8% Other non-interest income / (expense) 3 10.3 35.5 28.7 -71.0% Operating income before provisions 2 508.6 475.9 548.0 6.9% Net charge related to change in asset quality: -167.1 -45.5 -41.2 267.3% Net credit loss allowance charge for debt financial assets -138.0 -17.3 -35.5 697.7% Negative revaluation of loans at fair value due to change in credit quality -29.1 -28.2 -5.7 3.2% Net loss allowance / provision for credit related commitments -14.6 4.3 -6.9 -439.5% Staff and administrative expenses -169.2 -150.7 -238.0 12.3% Net profit from continuing operations 120.5 226.1 212.0 -46.7% Profit / (Loss) from discontinued operations 0.0 0.5 0.0 -100.0% Net profit 120.5 226.6 212.0 -46.8% Earnings per ordinary share from continuing operations, RUB 5.60 10.53 9.86 -46.8% Total comprehensive income from continuing operations attributable to the shareholders of the Bank 121.1 203.8 234.4 -40.6% Ratios based on continuing operations Return on equity based on profit from continuing operations 10.6% 22.9% 19.4% \-- Return on assets based on profit from continuing operations 1.5% 3.1% 2.8% \-- Net interest margin 5.49% 5.27% 5.52% \-- Cost of risk (amortized cost loans) 251 bp 44 bp 72 bp \-- Cost of risk (amortized cost and FV loans) 292 bp 96 bp 80 bp \-- Cost-to-income ratio 2 33.3% 31.7% 43.4% \-- Balance Sheet Results Highlights RUB bn, unless stated otherwise 31.03.2020 31.12.2019 31.03.2020/ 31.12.2019, % change Gross total loans1: 23,166.0 21,749.4 6.5% Corporate loans 1 14,972.0 13,865.4 8.0% Retail loans 1 8,194.0 7,884.0 3.9% Securities portfolio 4,671.2 4 369.7 6.9% Assets 32,068.9 29,958.9 7.0% Total deposits: 23,061.8 21,574.4 6.9% Retail deposits 14,669.9 14,209.6 3.2% Corporate deposits 8,391.9 7,364.8 13.9% Book value per share4, RUB 203.2 198.3 2.5% Ratios Net Loans / Deposits ratio (LDR) 93.5% 94.4% \-- Stage 3 + POCI loans / total gross loans at amortized cost 7.4% 7.5% \-- Provision coverage of Stage 3 + POCI loans 98.2% 89.3% \-- Net interest income came in at RUB371.9 bn in 1Q 2020, up by 10.2% y/y. Interest income increased by 0.5% y/y in 1Q 2020 to RUB583.4 bn on the back of loan portfolio1 expansion by 11.2% y/y to RUB23.2 trn (or 6.7% y/y adjusted for FX-revaluation) and a gradual decline in yields. * Retail loan portfolio increased by 3.9% in 1Q 2020 to RUB8.2 trn. The share of retail lending in the total loan portfolio was down by 0.9 pp to 35.4% due to the ruble devaluation. * Consumer loan portfolio was up by 6.6% in 1Q 2020 as a result of high demand and greater affordability of loans after the key rate was cut in the middle of the reporting quarter. Consumer lending was also supported by fast-growing online sales, which increased by 13 pp to 68% of all consumer loan issuances. * Mortgage portfolio grew by 2.5% in 1Q 2020. Mortgage lending in Sberbank is supported by increasing popularity of DomClick digital platform, which has a database of 2.14 mn property sale-purchase/rent listings. DomClick monthly active audience increased by 25% to 5.4 mln users. * Both mortgage and consumer lending in 1Q 2020 benefited from a spike in activity in March. * Corporate loan portfolio1 grew by 8.0% in 1Q 2020 to RUB15.0 trn, which was largely due to record loan origination in March as well as revaluation of the FX-portfolio driven by weaker ruble. * The yields on retail and corporate loans were down by 40 bp to 12.1% and by 60 bp to 7.2% in 1Q 2020, respectively, on the back of consecutive interest rate cuts. Interest expense, including deposit insurance expenses, was down by 12.9% y/y in 1Q 2020 to RUB211.5 bn due to lower market rates. * Retail deposits grew by 3.2% in 1Q 2020 to RUB14.7 trn. The average cost of retail term deposits was down by 40 bp for the quarter to 4.7%. * Corporate deposits increased by 13.9% in 1Q 2020 to RUB8.4 trn. The average cost of term deposits decreased by 90 bp in 1Q 2020 to 3.5%. * The outstanding balance of current/settlement accounts increased by 6.6% in 1Q 2020, with their share in total deposits staying above 30%. * Sberbank Group issued exchange-traded bonds in the nominal amount of RUB35 bn, and the outstanding balance of exchange-traded bonds portfolio totaled RUB445.5 bn.The share of foreign funding in the Group's total liabilities changed marginally (up to 1.2%), which owed to weaker ruble. Net LDR ratio equaled to 93.5%, down by 0.9 pp as compared to 4Q 2019. The Group net fee and commission income grew by 22.8% y/y in 1Q 2020 to RUB126.4 bn. The ratio of net fee and commission income to operating expenses increased by 6.4 pp to 74.7%. Growth in fee and commission income was led by income from cash and settlement, client transactions with currency and securities as well as operations with banking cards. Popularity of cashless transactions is gathering pace, and over 20% of Sberbank clients opt for purely cashless transactions. To encourage further penetration in cashless universe, Sberbank rolled out across the country its new solution that allows to use smartphone as a cashless payment terminal. The ease of upload and use of this inexpensive solution renders acquiring more affordable for small and micro businesses. Transport acquiring became available in 110 Russian cities. Sberbank brokerage services are growing at an accelerated pace. Number of brokerage accounts opened with Sberbank in 1Q increased by 300K to 1.56 million. Trading turnover increased by 88% as compared to 4Q 2019. According to management accounts, operating income of insurance, pension and asset management businesses amounted to RUB29 bn in 1Q2020. Wealth management combined assets increased by 3% year-to-date to RUB1.5 trn. The Group operating expenses (staff and administrative) were up by 12.3% y/y to RUB169.2 bn in 1Q 2020. Growth was largely due to development of digital services of Sberbank ecosystem and their integration in the sales network as well as annual alignment of payroll with inflation executed in 3Q 2019. On top of that, ruble devaluation led higher FX-denominated expenses. The Group Cost-to-Income ratio2 came in at 33.5% in 1Q 2020, up by 1.8 pp y/y. Net credit loss allowance charge for loans at amortized costs amounted to RUB 134.6 bn in 1Q 2020 (the Cost of Risk for loans at amortized cost was 251 bp). According to IFRS 9 part of the loan portfolio is accounted at fair value through profit or loss. Negative revaluation of these loans due to change in credit quality amounted to RUB29.1 bn for the quarter. The combined provision charge amounted to RUB163.7 bn, while the combined Cost of Risk was up to 292 bp. This is mainly due to macro corrections in accordance with IFRS9 to reflect the worsening macro outlook as a result of the global distress from COVID-19 and falling oil prices. The impact of macro corrections totaled RUB44.3 bn. Net charge for other provisions and allowances mainly against off-balance sheet credit commitments (letters of credit, guarantees) amounted to RUB24.5 bn in 1Q 2020 vs net recovery of RUB2.8 bn a year ago. The FX component shown as foreign exchange translation (losses) / gains amounted to RUB 81.8 bn in 1Q 2020.6 The loan portfolio quality remained relatively stable in 1Q 2020. The share of impaired loans, including the POCI loans, in total gross loan portfolio at amortized cost decreased by 0.1 pp to 7.4%. Total provision coverage of Stage 3 and POCI loans was up by 8.9 pp compared to the previous quarter to 98.2% in 1Q 2020 due to macro corrections. Selected Capital Adequacy Results4 (the data in the table is in accordance with standardized and IRB approaches applied to the corresponding assets groups) Under Basel III 31.03.2020 31.12.2019 31.03.2020 / RUB bn, unless stated otherwise 31.12.2019, % change Total Tier 1 capital 4,489.1 4,375.4 2.6% Total capital 4,648.5 4,433.5 4.8% Risk-weighted assets 33,719.4 32,634.1 3.3% Credit risk 29,308.4 28,062.7 4.4% Operational risk 3 486.8 3,486.8 0.0% Market risk 924.2 1,084.6 -14.8% Ratios Common equity Tier 1 capital adequacy ratio 13.31% 13.41% \-- Total capital adequacy ratio 13.79% 13.59% \-- Leverage ratio 13.1% 13.7% \-- The Group's total capital under Basel III reached RUB4,648.5 bn as of 31/03/2020, up by 4.8% as compared to the previous quarter. The Group's risk-weighted assets were up by 3.3% to RUB33,719.4 bn in 1Q 2020 due to the increase in credit risk by 4.4% on the back of FX revaluation of the loan portfolio. In the meantime, the risk-weighted assets density decreased from 103.3% to 98.5% due to the implementation of new models for mortgage and consumer lending as well as the introduction of the specialized lending slotting criteria for project financing (SLSC) within the IRB framework. The Group's leverage ratio decreased by 60 bp to 13.1% in 1Q 2020. Common equity Tier 1 capital adequacy ratio decreased by 10 bp to 13.31%, while total capital adequacy ratio improved by 20 bp to 13.79%. 1 Before loan loss allowance and including loans at amortized cost and at fair value 2 Operating income before provisions for debt financial assets, credit related commitments and revaluation of loans at fair value due to change in credit quality 3 Other non-interest income / (expense) includes: Net losses from non-derivative financial instruments at fair value through profit or loss (excluding revaluation of loans at fair value due to change in credit quality); Net gains from financial instruments at fair value through other comprehensive income; Net gains from derivatives, trading in foreign currencies, foreign exchange and precious metals accounts translation Impairment of non-financial assets; Net (charge for) / recovery of other provisions and allowances (excluding Net loss allowance / provisions for credit related commitments); Revenue of non-core business activities; Cost of sales and other expenses of non-core business activities; Net premiums from insurance and pension fund operations; Net claims, benefits, change in contract liabilities and acquisition costs on insurance and pension fund operations; Income from operating lease of equipment; Expenses related to equipment leased out; Other net operating (expense) / income 4 Total equity attributable to shareholders of the Bank / Total numbers of shares outstanding (ordinary + preferred) 5 Starting from 1Q19 the FX-component is excluded from provision charge / recovery for FX-denominated loans at amortized cost as well as from revaluation of FX-denominated loans at fair value. DISCLAIMER This document has been prepared by Sberbank of Russia (the "Bank") and has not been independently verified. This press release does not constitute or form part or all of, and should not be construed as, any offer of, or any invitation to sell or issue, or any solicitation of any offer to purchase, subscribe for, underwrite or otherwise acquire, or a recommendation regarding, any shares or other securities representing shares in, or any other securities of the Bank, or any member of the Bank's group, nor shall it or any part of it nor the fact of its presentation or distribution form the basis of, or be relied on in connection with, any contract or any commitment whatsoever or any investment decision. The information in this press release is confidential and is being provided to you solely for your information and may not be reproduced, retransmitted or further distributed to any other person or published, in whole or in part, for any purpose. This press release doesn't constitute an offer of securities of the Bank for sale in the United States. The Securities may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act of 1993 as amended. This press release is only being distributed to and is only directed at (A) persons in member states of the European Economic Area (other than the United Kingdom) who are "qualified investors" within the meaning of Article 2(1)(e) of Directive 2003/71/EC (as amended and together with any applicable implementing measures in that member state, the "Prospectus Directive") ("Qualified Investors"); (B) in the United Kingdom, Qualified Investors who are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and/or high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order; and (C) such other persons as to whom this press release may be lawfully distributed and directed under applicable laws (all such persons in (A) to (C) above together being referred to as "relevant persons"). The shares, or other securities representing shares, or any other securities of the Bank are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this press release or any of its contents. This press release does not constitute any offer of, or any invitation to sell or issue, or any solicitation of any offer to purchase, subscribe for, underwrite or otherwise acquire any securities of the Bank within the Russian Federation or in favor of the Russian entities or persons. Any foreign securities representing shares of the Bank may not be offered or sold within the Russian Federation, except as provided by the relevant Russian legislation. The information in this press release or in oral statements of the management of the Bank may include forward-looking statements. Forward-looking statements include all matters that are not historical facts, statements regarding the Bank's intentions, beliefs or current expectations concerning, among other things, the Bank's results of operations, financial condition, liquidity, prospects, growth, targets, strategies, and the industry in which the Bank operates. By their nature, forward-looking statements involve risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. The Bank cautions you that forward-looking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which the Bank operates may differ materially from those made in or suggested by the forward looking statements contained in this press release or in oral statements of the management of the Bank. In addition, even if the Bank's results of operations, financial condition and liquidity and the development of the industry in which the Bank operates are consistent with forward-looking statements contained in this press release or made in oral statements, those results or developments may not be indicative of results or developments in future periods. Sberbank assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason. The information and opinions contained in this press release or in oral statements of the management of the Bank are provided as at the date of this press release or as at the other date if indicated and are subject to change without notice. No reliance may be placed for any purpose whatsoever on the information contained in this press release or oral statements of the management of the Bank or on assumptions made as to its completeness. No representation or warranty, express or implied, is given by the Bank, its subsidiaries or any of their respective advisers, officers, employees or agents, as to the accuracy of the information or opinions or for any loss howsoever arising, directly or indirectly, from any use of this press release or its contents. This press release is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. By attending or reviewing this press release, you acknowledge and agree to be bound by the foregoing. * * * ISIN: US80585Y3080, RU0009029540, RU0009029557, US80585Y4070 Category Code: MSCM TIDM: SBER LEI Code: 549300WE6TAF5EEWQS81 Sequence No.: 61324 EQS News ID: 1033667 End of Announcement EQS News Service